The current decrease of prices offers a good opportunity to buy the security.

The group is still undervalued and the “enterprise value to sales” ratio shows an attractive valuation of 0.54x for the current year. The P/E ratio also underlines this situation with a value at 9.51x for 2013 and 9.56x for 2014.The last earnings release has disappointed analysts but does not change the good financial situation of the company as shown by the upward revisions on EPS during the past 12 months.

Graphically, buyer flows are reduced. If the trend is now bearish in the short term, profit taking is part of a rebound on the USD 56.56 and therefore does not affect the upward trend in the medium and long term.

A decline seems possible on the USD 56.56 area but this support seems to be very strong. Therefore, it could be a basis for a purchase to target USD 60.64. A stop loss will be fixed below the support at USD 56.6 to limit the risk. The crossing of this resistance could allow the prices to reach the mid-term resistance at USD 64.4.